The Group of Twenty, or G20, is the main forum for international economic cooperation. Its members account for around 85 percent of world GDP, more than 75 percent of global trade and about two thirds of the world’s population, as per figures shared during India’s presidency.
How the G20 began
The G20 was formed in 1999 after the Asian financial crisis as a meeting of finance ministers and central bank governors. After the global financial crisis of 2008, it was upgraded to the level of heads of state and government. The first leaders’ summit was held in Washington in November 2008.
Members
The G20 has 19 countries, the European Union and the African Union. The countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey (Turkiye), the United Kingdom and the United States. The African Union became a permanent member at the New Delhi summit in September 2023.
How the presidency works
The G20 has no permanent secretariat. A member country holds the presidency for one year and sets the agenda, hosts meetings and organises the leaders’ summit. The presidency is supported by a troika made up of the previous, current and next presidents, which helps continuity.
Work happens on two tracks:
- The Finance Track, led by finance ministers and central bank governors.
- The Sherpa Track, led by personal representatives of leaders, covering topics like health, energy, climate, digital economy and development.
Also Read: UN Security Council Explained: Permanent Members, Veto Power and India’s Push for a Permanent Seat
India’s 2023 presidency
India held the G20 presidency from December 1, 2022 to November 30, 2023, with the theme Vasudhaiva Kutumbakam, or One Earth, One Family, One Future. More than 200 meetings were held in about 60 cities. Key outcomes of the New Delhi Leaders’ Declaration included:
- The inclusion of the African Union as a permanent member.
- Support for digital public infrastructure.
- Commitments on multilateral development bank reform.
- The launch of the Global Biofuels Alliance on the sidelines of the summit.
Recent presidencies
After India, Brazil held the presidency in 2024 and South Africa in 2025, the first time the summit was held on the African continent. The United States holds the presidency in 2026. Check the official G20 presidency website for the latest meetings and summit details.
Why it matters for India
The G20 gives India a seat at the table where rules on trade, finance, climate and technology are shaped. India has used the forum to raise issues of the Global South, such as debt relief and climate finance.
Bottom line
The G20 is an informal but powerful club of major economies. Its rotating presidency lets each member shape the global agenda for a year, as India did in 2023.
Source / स्रोत: Ministry of External Affairs, G20 India 2023 archive, Press Information Bureau
टिप्पणियां (2)